Look for low risk buy positions towards 1.31875. | 03 Agosto 2020
03 Agosto 2020, GBP/USD
Wave Analysis
Just before the end of last week, the British pound established a swing high around 1.31875, The pair then pulled back to the lower side but is above a significant level 23.6% fib level. We expect further correction to the lower side towards 50.0% fib level but should not break any lower. As it is now, any signs that the current correction is ended will be a good sign for a long term buy. The anticipated buy position is the continuation of the impulsive wave (v) to the upperside and should break above 1.31875.
Trade Recommendations:
Look for low risk buy positions towards 1.31875.
The author's opinion reflects their personal view and is not an investment recommendation. The company is not responsible for any trading results based on the provided analytical data.
